Sovereign debt
Greece referendum puts eurozone rescue plan in jeopardy
Athens throws spanner in the works with the announcement of a referendum on the eurozone rescue package in January; parliamentary confidence vote also due on Friday
Governments must ‘earn’ quasi-risk-free status: BIS’s Hannoun
Bank for International Settlements deputy general manager Hervé Hannoun says advanced economy governments can earn back quasi-risk-free status through prudent fiscal policy
BIS’s Caruana urges eurozone to attack root of sovereign debt problem
Bank for International Settlements general manager Jaime Caruana says bolstering banks’ capital buffers not sufficient to regain risk-free status
Gonzalez-Paramo urges speedy action in Europe
ECB executive board member pushes for more haste from European leaders to stem the crisis; says ECB has not decided when to end bond-buying programme
Central banks open new chapter as large net gold buyers
Thomson Reuters GFMS Gold Survey 2011 shows net official purchases of gold rose to more than 200 tonnes during the first half of the year; forecasts gold to reach $2,000 by year-end
Greece may not opt for debt swap
Greek authorities say they will not agree to private-sector involvement unless 90% of eligible government bonds are included in transaction
Vote now: Should Greece leave the euro?
CentralBanking.com is running a poll to gauge readers' thoughts on the breakdown of the eurozone
Last-minute US debt ceiling rise leaves world reeling
Debt ceiling deal will not restore investor confidence immediately; China still looking to diversify reserves away from dollar; credit ratings agencies cautiously affirm top ratings
Brazil ‘prepared’ for international challenges: Tombini
Governor of the Central Bank of Brazil says country is ‘prepared’ to face the challenges in the international arena; expects inflation downward trend to continue
Lagarde sets out ‘four-C’ plan to keep IMF relevant
Christine Lagarde says IMF must focus on clients and connections, be comprehensive and credible; reform of voting system is a top priority
Banks have most to lose from a US default: Standard & Poor's report
Standard and Poor’s says financial institutions reliant on short-term funding from the US Treasury would be hit hardest if the US were to default on its debt
Bank of Italy – Economic Bulletin (July 2011)
Bank of Italy July 2011 Economic Bulletin says risks from European sovereign debt crisis have spread to Italy
Sovereign default risks amplify supply shocks: IMF paper
Fund study incorporates sovereign default risks into a general equilibrium model
US will resolve debt crisis by August 2: Obama
President Barack Obama says failure to raise the US debt ceiling would be “not acceptable”
BIS report highlights steps to curb sovereign debt risks
Basel working group outlines measures central banks can introduce to mitigate the risks associated with sovereign debt
The new environment facing sovereign investors
Post-crisis, SWFs meet with less official resistance to investment, but markets are trickier and stakeholders no less demanding, writes Donghyun Park
Eurozone authorities are losing credibility – CNB’s Singer
Credibility is key in crisis resolution and European authorities are failing to achieve, warns Miroslav Singer, the governor of the Czech National bank
BIS Annual Report highlights action needed in key global economies
General theme of Annual Report is of slow global recovery; the United Kingdom, the United States and China all pinpointed for action
Switzerland votes for tougher capital rules on big banks
Swiss upper chamber backs bill to raise capital requirements of largest banks to 19%; Swiss National Bank vice-chairman Thomas Jordan says potential losses must be fully absorbed
ECB highlights funding vulnerabilities in euro area banks
European Central Bank June 2011 Financial Stability Review shows funding vulnerabilities remain "Achilles heel" for euro area banks
LCR should include equity, says ACP’s Nouy
Basel III liquidity coverage ratio should admit equities with significant haircuts, says Danièle Nouy at the Autorité de Contrôle Prudentiel
Sovereign spillovers normalised Asian spreads, says IMF study
Fund paper attributes volatility in Asian sovereign debt markets during crisis to sovereign risk spillovers
OECD and South Africa to set up first African sovereign debt management centre
New centre will train African government officials in managing sovereign debt and set up a government debt database for the region